The USD index (USDX) is an index that comprehensively reflects the US dollar exchange rate in the international foreign exchange market, and is used to measure the degree of exchange rate changes of the US dollar against a basket of currencies. The dollar index measures the strength of the dollar by calculating the comprehensive change rate of the dollar and the selected basket of currencies, thus indirectly reflecting the changes in the export competitiveness and import cost of the United States.

Dow Jones index, the Dow Jones average stock price index, is the most influential and widely used stock price index in the world. It is based on some representative company stocks listed on new york Stock Exchange, and consists of four stock price average indexes.

The dollar index is not from Chicago Board of Trade (CBOT) or Chicago Mercantile Exchange (CME), but from new york Cotton Exchange (NYCE). New york Cotton Exchange was founded in 1870, which was originally composed of a group of cotton merchants and middlemen. At present, it is the oldest commodity exchange in new york and the most important cotton futures and options exchange in the world.

1985, new york cotton exchange established the finance department, and officially entered the global financial commodity market. The first is the US dollar index futures.

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1944, Britain and the United States reached an understanding after a heated debate. In May of that year, the United States invited representatives of 44 governments involved in the preparation of the United Nations to hold a meeting in Bretton Woods, signed the Bretton Woods Agreement, and established the second international monetary system after the collapse of the gold standard-the Bretton Woods system.

The core of this system is the "double peg" system, that is, the dollar is linked to gold, and the currencies of various countries are linked to the dollar. The dollar is at the center and plays the role of the world currency, while the United States undertakes the obligation to exchange official prices for gold.

In fact, it is a new gold exchange standard system. In the Bretton Woods monetary system, the role of gold in circulation and international reserves has decreased, and the dollar has become the protagonist in this system.

However, because gold is the last barrier to stabilize this monetary system, the price and flow direction of gold are still strictly controlled, and residents are prohibited from buying and selling gold freely in various countries, so it is difficult for the market mechanism to play an effective role.

Whether the Bretton Woods monetary system can run smoothly is closely related to the credibility and status of the US dollar. In the 1960s and 1970s, the United States was mired in the Vietnam War, with a huge fiscal deficit and deteriorating international income. The credibility of the US dollar was greatly impacted, and several US dollar crises broke out.

A large amount of capital fled, and countries sold dollars and snapped up gold, which greatly reduced the US gold reserves and led to the skyrocketing price of gold in London.

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